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Crypto lending service Celsius announced early Monday it would pause withdrawals, citing "extreme market conditions."
The company announced it would also pause its swap and transfer products, according to a blog post. It did not provide a timeline for resuming withdrawals.
"We are working with a singular focus: to protect and preserve assets to meet our obligations to customers. Our ultimate objective is stabilizing liquidity and restoring withdrawals, Swap, and transfers between accounts as quickly as possible. There is a lot of work ahead as we consider various options, this process will take time, and there may be delays," the blog post said.
The announcement comes on top of Celsius telling nonaccredited investors that they could no longer transfer funds.
The company also recently replaced its Chief Financial Officer, after former CFO Yaron...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...